This recommerce site is tackling retail’s 8-billion-pound problem—returns—with buy-in from Jay-Z and Serena Williams
Rebel partners with retailers to sell their returned merchandise. It just raised $25 million led by Jay-Z’s MarcyPen Capital Partners to keep growing.
America is in an overstock and returns crisis. Every year 8.4 billion pounds of products are returned to online sellers, according to the National Retail Federation. The typical solution from retailers is to send the roughly 17% of their inventory made up of returns to a landfill, regardless of the condition of the products.
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